STO has generated A$0.91 earnings per share over the last four quarters. revenue of US$1.14 billion, up 6%, and record quarterly free cash flow of US$359 million, up 33%. Santos Managing Director and Chief Executive Officer Kevin Gallagher said Santos delivered record production, sales revenue and free cash flow in the first quarter, demonstrating the strong performance of the base business and strategic benefits of our diverse portfolio. It is a great achievement to have extended the life of Bayu-Undan following the approval of the infill drilling program and taken FID on the Barossa project less than a year after we completed the ConocoPhillips acquisition. At the time of writing, Santos shares are trading at $8.32, a 1.09% gain. Following FID in November 2021, the Moomba CCS project is 14 per cent complete and progressing on budget and schedule for first injection of CO2 in 2024. ForDepreciation, depletion and amortisation. BlackBerry Reports First Quarter Fiscal Year 2024 Results. Delivered record year-to-date sales revenue of US$5.9 billion, up 86 per cent, and record free cash flow of US$2.7 billion, up 194 per cent on the corresponding period, Third quarter production of 26.1 mmboe was slightly higher than the second quarter primarily due to increased domestic gas demand and reduced production downtime, Free cash flow of over US$1 billion in the quarter reduced gearing to 20.8 per cent at the end of September, Received a binding conditional offer to acquire a 5 per cent interest in PNG LNG for asset value of, Barossa drilling operations suspended following Federal Court decision to set aside the acceptance by the regulator of the drilling and completion activities environmental plan. projects currently have 10 spot cargoes scheduled in the first quarter of 2021. Targeting 2020 free cash flow breakeven oil price of US$25 per barrel. 2022. Size and scale have never been more important as we look to fund the energy transition to net-zero emissions, and the merger is expected to create one of the top-20 companies in our sector globally and a top-20 ASX-listed company.. Join us and your talent, skills and ideas will have a direct impact on results as we thrive and improve together. Santos Managing Director and Chief Executive Officer Kevin Gallagher said Santos delivered record production, sales revenue and free cash flow in the first quarter, demonstrating the strong performance of the base business and strategic benefits of our diverse portfolio. Sales revenues and free cash flow were records for Santos as the business benefited from higher commodity prices, including JKM pricing for 12 LNG cargoes sold during the quarter. Fourth quarter sales volumes were higher than the prior quarter primarily due to inclusion of the Oil Search assets from 11 December 2021 (1.5 mmboe) combined with timing of crude oil liftings, partially offset by lower Cooper Basin third- party oil volumes. The horizontal oil wells were drilled in the McKinlay, Hobbes and Frostilicus fields. The completion of the Oil Search merger delivers us the size and scale to deliver even stronger outcomes in 2022 and beyond," Mr Gallagher said. In November, Santos took FID on the Moomba CCS Project after the Clean Energy Regulator registered the project with the Emissions Reduction Fund, enabling the project to generate Australian Carbon Credit Units (ACCUs). The Varanus Island Compression and Spartan projects continued to make good progress in support of developing additional reserves back to Varanus Island. The Portuguese Case | Carlos Alves, Fernando Teixeira dos Santos, and Fernando Santos - Academia.edu Academia.edu no longer supports Internet Explorer. In early April, the Dorado joint venture accepted the production licence offered by NOPTA while stage 2 assessment of the Offshore Project Proposal (OPP) is progressing. Cooper Basin production was slightly lower than the previous quarter due to natural field decline and higher gas downtime as a result of planned upstream events and unplanned train outages in the Moomba Plant. Santos on Thursday reported that production volumes for the first quarter to March declined to 22.2-million barrels of oil equivalent, down from the 25.6-million barrels of oil equivalent produced . A data worksheet containing unaudited quarterly sales, revenue, production and capital expenditure tables in Excel f rmat is available on Santos' website. [1] Excludes integration and other one-off costs. First quarter sales volumes were higher than the prior quarter primarily due to completion of the Oil Search merger in December 2021, partially offset by lower domestic gas volumes in Western Australia and expected natural field decline at Bayu-Undan. The GLNG project in Queensland produces liquefied natural gas (LNG) for export to global markets from the LNG plant at Gladstone and is also sold into the domestic market. June trailing three-month underlying orders were up 10 percent. Santos (ASX:STO) has a recorded annual revenue of $7.79 billion. There was also an improvement compared to first quarter 2022 when 96.9 percent of mortgages were current and performing. Join us and your talent, skills and ideas will have a direct impact on results as we thrive and improve together. 19 Apr 2018 Key highlights Strong free cash flow generation Santos is now reaping the benefits of its new. Engineering, commercial and marketing studies are progressing on the Moomba hydrogen project with the goal of positioning the project as Australia's. First Quarter Activities Report For period ending 31 March . CNN Former President Donald Trump 's criminal indictment helped jolt his fundraising. Santos generated US$302 million in free cash flow in the first quarter Balance sheet supportive of disciplined and phased growth Net debt at the end of the first quarter (including leases) was US$3.6 billion after payment of the US$104 million 2020 final dividend and gearing was 33.6 per cent 2022 Full-year Results Announcement and Presentation. Subscribe to the FREEenergy-pedia Daily NewsletterSubscribe, 238 High Street Small gains for Aussie shares in first-half as decade-high interest rates weigh, Consumer and property stocks drag Australian shares lower, Australian shares extend gains on bank rally; retail sales data in focus, Australian shares on track to snap losing streak; CPI in focus, Australian shares log worst weekly fall in over 3 mths on further rate hike concerns, Australian shares set for worst week in four; Powell's speech in focus, Australian shares hit 7-week high on commodity boost; RBA minutes awaited, Australian shares climb for fifth session in broad-based buying, Australian shares inch lower ahead of key U.S. data, Fed rate decision, Australia shares rise on mining and gold boost; set for third weekly drop, Australian shares muted as gold, tech losses counter gains in commodities, Australian shares inch higher ahead of GDP data, miners top gainers, Australian shares skid ahead of RBA decision, financials top losers, Australian shares rise as energy stocks jump; RBA decision in focus, Australia shares edge higher after US House votes to suspend debt ceiling, Australian shares extend fall after hotter-than-expected inflation data, Australian shares edge higher amid fresh hurdles for U.S. debt ceiling deal, Australian shares jump as US leaders strike provisional debt deal, Australian shares set for worst week in two months; US debt deal in focus, Banks drag Australian shares lower amid U.S. debt ceiling worries, Energy stocks push Australian shares higher, U.S. debt talks in focus, Australian shares decline on U.S. debt default fears, Mining, banking stocks push Australian shares higher, Talon Energy Secures Path to Market of Walyering Condensate Production, Australian shares extend losses on renewed rate-hike jitters. Our oil assets performed well with strong realised prices in the quarter, while our onshore assets performed particularly strongly including the highest quarterly Cooper Basin gas production in nine years and GLNG operating above guidance at 6.4 mtpa., For the remainder of 2020, around 70% of our forecast production volumes are either fixed-price domestic gas contracts or oil hedged at an average floor price of US$39 per barrel., The current environment is a time for discipline. Santos' LNG projects shipped 60 cargoes in the first quarter, of which 7 spot cargoes (Darwin LNG 4, PNG LNG 3) and 6 contracted GLNG cargoes were sold at JKM prices. In response to COVID-19, the financial initiatives we announced on 23 March demonstrated we are taking decisive action to ensure Santos is well-positioned in a lower oil price environment. "Our disciplined, low-cost operating model continues to drive strong performance across the business and has positioned us to take full advantage of the increase in commodity prices. The Moomba CCS project, which will be one of the biggest in the world, is 60 percent complete and on track for first injection of CO2 next year. Three-month lagged JCC averaged. Copyright 2023 Surperformance. Santos reported $720 million in free cash flow in the first quarter. Fourth quarter production was higher than the prior quarter primarily due to inclusion of the Oil Search assets from 11 December 2021 (1.7 mmboe), partially offset by lower Cooper Basin volumes, a lower net entitlement under the Bayu- Undan Production Sharing Contract due to higher realised commodity prices and lower domestic gas volumes in Western Australia due to planned maintenance. Strong production combined with higher commodity prices delivered record quarterly free cash flow of US$865 million, an increase of 186 per cent from the corresponding period last year. Santos' 2022 Full-year results were released on Wednesday 22 February 2023. . The Cooper Basin produces natural gas, gas liquids and crude oil. 1Unsanctioned projects contingent amount of up to ~$400 million for Dorado phase 1 and Pikka phase 1 (subject to FID). Join us and your talent, skills and ideas will have a direct impact on results as we thrive and improve together. Media. Record annual production, record sales revenue and record free cash flow. US$80/bbl in the first quarter compared to US$73/bbl in the fourth quarter of 2021. Santos seeks to work with contractors and suppliers who are economically, environmentally and socially responsible. Delayed Quote The OCC Mortgage Metrics Report, First Quarter 2023 showed that 97.6 percent of mortgages included in the report were current and performing at the end of the quarter, compared with 97.1 percent in the fourth quarter 2022. Domestic gas production and sales were slightly lower than the previous quarter due to a planned maintenance shutdown at Varanus Island. Santos Managing Director and Chief Executive Officer Kevin Gallagher said Santos had delivered another strong quarter of production and sales volumes, and strong free cash flow, as the business benefited from higher commodity prices and a low free cash flow breakeven oil price. Santos achieved record production of 26 million barrels of oil equivalent (mmboe) in the first quarter Stronger commodity prices combined with higher sales volumes delivered record quarterly sales revenue of US$1.9 billion, up 25 per cent compared to the prior quarter and 99 per cent higher than the corresponding period in 2021 Santos g. In the Bedout Basin, the Pavo-1 exploration well made a material oil discovery 46 kilometres east of the Dorado field. Potential for drilling activities to recommence before the end of the year, Pikka Phase 1 preparing for drilling activities in the second quarter of 2023, FEED entry on the integrated Papua LNG project in March 2023, with first production expected end 2027/early 2028, Dorado Offshore Project Proposal accepted by regulator in February 2023 to support development and we continue to refine an integrated development concept, with a focus on integrating the Pavo discovery and phase 2 via Varanus Island, The impact of the proposed reforms to the Safeguard Mechanism are yet to be determined, as guidelines are not finalised. 1 MarketScreener is worth more than 1000 Influencers! Frostillicus-2 was the longest horizontal oil well drilled by Santos in the Cooper Basin and is currently the strongest oil producer in the Basin. 2023 First Quarter Report 20th Apr 2023 jump to downloads Strong sales revenue and free cash flow Sales revenue of US$1.6 billion in the first quarter First quarter production of 22.2 mmboe was lower than the prior quarter primarily due to reduced domestic gas volumes in Western Australia supported by extended production from the Bayu-Undan field Distributed by Public, unedited and unaltered, on 19 January 2022 21:55:17 UTC. uptime on the Ningaloo Vision and Pyrenees FPSOs. Guidance for 2022 will be provided with the full-year results on 16 February 2022. The full-year report (incorporating Appendix 4E) and associated investor briefing presentation will be available on Santos' website at www.santos.com. Santos seeks to work with contractors and suppliers who are economically, environmentally and socially responsible. Domestic gas production and sales were lower than the prior quarter due to an outage at a major customer and lower spot sales. In the fourth quarter, real GDP increased 2.6 percent. PNG LNG produces LNG for export to global markets, as well as sales gas and gas liquids. The GLNG project in Queensland produces liquefied natural gas (LNG) for export to global markets from the LNG plant at Gladstone and is also sold into the domestic market. 20 th Jul 2023 2023 Second Quarter Report. We have also established a partnership with Osaka Gas to investigate the feasibility of carbon neutral synthetic e-methane from green hydrogen in the Cooper Basin, Mr Gallagher said. "Consistent with our strategy, our next stage of growth will be disciplined and phased. Santos Limited (ASX:STO) The Moomba CCS project is an important enabler for the production of hydrogen. Our Santos Energy Solutions business continues to work on building new revenue sources through decarbonisation projects. Northern Australia and Timor-Leste is centered on the Bayu-Undan/Darwin LNG (DLNG) project. The OCC Mortgage Metrics Report, First Quarter 2023 showed that 97.6 percent of mortgages included in the report were current and performing at the end of the quarter, compared with 97.1 percent in the fourth quarter 2022. 'Our goal is to deliver superior shareholder returns while being a global leader in the transition providing cleaner energy and clean fuels that are affordable and reliable.'. Santos Managing Director and Chief Executive Officer Kevin Gallagher said Santos had delivered another strong quarter. - 02:10:37 2023-06-30 am EDT. The Barossa project is 33 per cent complete and making excellent progress, while the Moomba carbon capture and storage project will deliver a step-change in our emissions profile when it comes online in 2024. Residential fixed investment spending from housing businesses or landlords had less of a drag on GDP. All Rights Reserved, MPP-Energy and Enpet Energy farming out the Duzce G26-A license, onshore Northern Turkey, 3D Oil identifies possible Dorado-1 look-alike structures in WA-527-P, Bedout Sub-basin - farmout available (duplicate), AVS Group selling offshore oil and gas prospect, Finder Energy farming out AC/P 45 and AC/P 55, Northern Browse/Central Bonaparte Basin Ashmore Platform, 3D Oil and Hibiscus Petroleum farming out VIC/P74, offshore Gippsland Basin, Enpet Energy farming out Duzce G26-A License in Northern Turkey, Santos achieved record production of 26 million barrels of oil equivalent (mmboe) in the first quarter, Stronger commodity prices combined with higher sales volumes delivered record quarterly sales revenue of US$1.9 billion, up 25 per cent compared to the prior quarter and 99 per cent higher than the corresponding period in 2021, Santos generated a record US$865 million in free cash flow in the quarter, up 186 per cent on the corresponding period, 13 LNG cargoes sold in the first quarter from Santos LNG projects on JKM prices, Strong free cash flows reduced gearing to 26 per cent at the end of March following payment of the 2021 final dividend, meaning the balance sheet is well positioned to fund disciplined growth and higher shareholder returns, Barossa project is 33 per cent complete and progressing on schedule and budget, Moomba CCS project is 14 per cent complete and progressing on schedule and budget, Bayu-Undan and Darwin LNG joint ventures entered FEED on the Bayu-Undan CCS project, Successful oil discovery at Pavo significantly increases resource size and provides a potential low-cost tie-back to Dorado. Fourth Quarter Report For period ending 31 December 2022 ASX: STO | PNGX: STO | ADR: SSLZY Claire Hammond +61 (0) 401 591 488 claire.hammond@santos.com Investor enquiries Andrew Nairn +61 8 8116 5314 / +61 (0) 437 166 497 andrew.nairn@santos.com Santos Limited ABN 80 007 550 923 GPO Box 2455, Adelaide SA 5001 June 28, 2023. Santos Ltd. published this content on 20 April 2022 and is solely responsible for the information contained therein. Three-month lagged JCC averaged US$73/bbl in the fourth quarter compared to US$67/bbl in the third quarter. Excludes integration and other one-off costs. Full-year Results. [1] Excludes integration and other one-off costs. Santos today released its 2021 First Quarter Activities Report. Delayed Quote The initial phase of development will involve gas reinjection to maximise liquids recovery ahead of a second phase of gas export from the field. Strong base business performance and improved commodity prices delivered record quarterly sales, Gross Bayu-Undan production was higher in the quarter due to the successful start-up of the first well in, Continued growth in GLNG equity gas production from the Roma and Arcadia fields contributed to a 20%, Strong free cash flows reduced net debt (including leases) to US$3.1 billion and gearing to 29.7% at the, Barossa 15% complete and progressing on schedule and budget, with first steel cut for the FPSO hull, Award of major FEED contracts for the Dorado project, Registration of the Moomba CCS project with the Clean Energy Regulator underway, In September, Santos and Oil Search entered into a definitive agreement to merge the two companies in, Upon completion of the merger, Santos shareholders will own approximately 61.5% of the merged entity, The merger is on track for completion by year-end and is subject to a limited number of customary. Santos' disciplined operating model has delivered strong production which, combined with higher commodity prices, resulted in record third quarter free cash flow of over US$1 billion, taking free cash flow for the first nine months of 2022 to US$2.7 billion. How much profit does Santos generate each year? ST. LOUIS, Aug. 9, 2022 - Emerson (NYSE: EMR) today reported results for its third fiscal quarter ended June 30, 2022 and updated its full year outlook for fiscal 2022. Quarter 1. English Deutsch Franais Espaol Portugus Italiano Romn Nederlands Latina Dansk Svenska Norsk Magyar Bahasa Indonesia Trke Suomi Latvian Lithuanian esk . The Spartan project continued to make good progress in support of developing additional reserves back to Varanus Island. Northern Australia and Timor-Leste is centered on the Bayu-Undan/Darwin LNG (DLNG) project. Twelve gas wells were drilled and five connected across the Cooper Basin in the first quarter. The Cooper Basin produces natural gas, gas liquids and crude oil. Im very happy with how the merger is progressing, and particularly acknowledge the positive comments from PNG Prime Minister Hon. 1Excludes integration and other one-off costs. EN. 2Capital expenditure including restoration expenditure but excluding capitalised interest. Unsanctioned projects contingent amount of up to ~$400 million for Dorado phase 1 and Pikka phase 1 (subject to FID). Weekly jobless claims drop 26,000 to 239,000. WASHINGTON, June 29 (Reuters . Santos : 2022 First Quarter Report 04/20/2022 | 07:25pm EST First Quarter Report For period ending 31 March 2022 ASX: STO | PNGX: STO | ADR: SSLZY 21 April 2022 Record quarterly production, sales revenue and free cash flow Santos achieved record production of 26 million barrels of oil equivalent (mmboe) in the first quarter, Stronger commodity prices combined with higher sales volumes delivered record quarterly sales revenue of US$1.9 billion, up 25 per cent compared to the prior quarter and 99 per cent higher than the corresponding period in 2021, Santos generated a record US$865 million in free cash flow in the quarter, up 186 per cent on the corresponding period, 13 LNG cargoes sold in the first quarter from Santos' LNG projects on JKM prices, Strong free cash flows reduced gearing to 26 per cent at the end of March following payment of the 2021 final dividend, meaning the balance sheet is well positioned to fund disciplined growth and higher shareholder returns, Barossa project is 33 per cent complete and progressing on schedule and budget, Moomba CCS project is 14 per cent complete and progressing on schedule and budget, Bayu-Undan and Darwin LNG joint ventures entered FEED on the Bayu-Undan CCS project, Successful oil discovery at Pavo significantly increases resource size and provides a potential low-cost tie-back to Dorado, US$54 million in ongoing annual synergies achieved in the first three months of integration, On track to deliver guidance of US$90-115 million per annum in synergies, 2022 Climate Change Report released confirming Santos is well placed to address the risks and seize the opportunities of the global transition to cleaner energy and clean fuels. Santos is appealing the decision with a hearing on the appeal expected to be held in mid-November, Following FID on the Pikka Phase 1 project in Alaska in August, contracting activities are well underway with drilling expected to commence in the second quarter of 2023, Moomba CCS project is 25 per cent complete and progressing on schedule and budget, Bayu-Undan CCS project continues to gain momentum with onshore and offshore FEED packages awarded and engagement with the Australian and Timor-Leste governments, Trials of direct air capture technologies in the Cooper Basin planned to commence first half 2023, US$112 million in sustaining annual synergies achieved in the first nine months of integration[1]. There was also an improvement compared to first quarter 2022 when 96.9 percent of mortgages were current and performing . The Company is a producer of domestic natural gas in Western Australia and is also a significant producer of natural gas liquids and oil. First-quarter GDP growth revised up to 2.0% from 1.3%. Santos Ltd in Moses Lake, WA Expand search. I remain confident our disciplined, low-cost operating model is built to see Santos through these challenging periods and todays results are a strong base for us to build on as we fight current low oil prices and COVID-19. First quarter production was a record and higher than the prior quarter primarily due to completion of the Oil Search merger in December 2021, partially offset by expected natural field decline at Bayu-Undan and lower domestic gas volumes in Western Australia due to reduced customer nominations. The Company's segments include five key assets/operating areas of the Cooper Basin, Queensland and New South Wales, Papua New Guinea (PNG), Northern Australia and Timor-Leste, and Western Australia. Sales revenue of US$1.6 billion in the first quarter, First quarter production of 22.2 mmboe was lower than the prior quarter primarily due to reduced domestic gas volumes in Western Australia supported by extended production from the Bayu-Undan field, Free cash flow of around US$720 million in the first quarter, Completed US$466 million of announced US$700 million on-market share buyback at end March, Barossa project 56 per cent complete drilling activities remain suspended pending re-submission and approval of the environmental plan. | April 15, 2023 The Barossa project is 33 per cent complete and making excellent progress, while the Moomba carbon capture and storage project will deliver a step-change in our emissions profile when it comes online in 2024. Santos' portfolio average realised LNG price increased by 32 per cent in the quarter to US$13.64/mmBtu; Disciplined and phased growth. GOP presidential candidate Nikki Haley faces questions about her campaign math. The project is on track to start-up in early 2023, with successful completion of the first offshore subsea campaign in the first quarter. The well was drilled to final total depth of approximately 2,900 metres and while hydrocarbons were observed in the well, a commercial hydrocarbon pool was not discovered. Strong production combined with higher commodity prices delivered record quarterly free cash flow of US$865 million, an increase of 186 per cent from the corresponding period last year. Approximately 70% of forecast production volumes for the remainder of 2020 are fixed-price, comprising: Fixed-price domestic gas sales contracts, and, 14 million barrels of oil hedged at an average floor price of US$39/bbl with upside participation, On 23 March, Santos announced financial measures in response to the lower oil price environment, including a US$550 million (38%) reduction in 2020 capital expenditure, a US$50 million reduction in cash production costs and a target free cash flow breakeven oil price of US$25 per barrel, Growth projects deferred until business conditions improve, Announced an agreement to sell a 25% interest in Darwin LNG and Bayu-Undan to SK E&S for, The companys debt covenants have sufficient headroom and are not under threat at current oil prices for a number of years, S&P Global Ratings reaffirmed Santos investment grade credit rating with stable outlook.
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santos first quarter report
